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OTR Sale to McDonalds

Asset Plus One was asked by long standing clients, OTR, to advise them on the best development options for a one-acre site on Cannon Lane in Tonbridge.

As soon as Asset Plus One was on board they recommended that OTR acquire a small vacant office building which had recently been placed on the market and which was immediately adjacent to the client’s site. The enlarged site benefitted from increased visibility and extended frontage to Cannon Lane.

Various alternative configurations were considered for a retail scheme and  assisted with securing a planning consent for bulky goods retail warehouse use.

Liaison with a rosta of leading retailers was taking place to agree pre-lets when McDonalds stepped in with an offer to purchase the site outright. Terms were agreed and a sale was achieved.

 

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